In this paper, we study the multifaceted transformation of an emerging market firm making multiple acquisitions. Drawing on a process study of an acquisitions program spanning two decades, we examine the post-acquisition internationalization, integration and organizational identity dynamics of an Arabian Gulf EMNC serial acquirer. We find that the serial acquisitions and post-acquisition integration were sufficiently profound and changing over time to create an organizational identity transformation in four phases: (1) diffusion, (2) consolidation, (3) restoration, and (4) reinvention. These phases further reflect an emergent business model centered on new resource allocations and innovation competencies as well as a new worldwide brand and revised value propositions. Our study enhances understanding of post-acquisition integration variations and programmatic expansion through acquisitions from emerging markets by proposing a post-acquisition metamorphosis perspective on internationalization from a region of the world relatively less-examined yet nevertheless of central economic importance from a global geopolitical resources perspective.